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Date : 29/01/2021

Hawkstone Mining (ASX:HWK) shares soar over 38% today

Hawkstone Mining (ASX:HWK) Shares Soar Over 38% Today

On a day when global stock markets experienced a pull back across all sectors, Hawkstone is a mining stock that has been in the news for the right reasons. The stock soared 38% on the back of a very positive announcement.

The metallurgical testing of mineralisation that was being conducted at Hawkstone Mining’s Big Sandy lithium project brought back results that showed lithium recoveries in the 90% range. The early stage mining firm was able to rid lithium off iron, aluminium and magnesium successfully from the leach solution with minimum losses of lithium. The final stage of testing is now under progress where calcium and sodium are being removed. This can then be used to produce lithium carbonate that can be used in batteries.

Lithium and any commodity that is required in the push towards green energy are very price sensitive at the moment. Following new US President Joe Biden’s green energy push, where he already signed an executive order to reinstate the USA’s position in the Paris Agreement, lithium, copper, and several other mining stocks have been soaring. While a lot of commodities will play a role in the push towards green energy, lithium mining stocks have arguably the heaviest tailwinds supporting them.

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